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At the end of last year, the life of a 37-year-old Romanian citizen changed dramatically. Overnight, he lost all hopes of a comfortable life in the United States and found himself not only in the hands of law enforcement agencies in New York, but became the hero of the Associated Press news.
A man managed to steal $127,000 using skimming devices installed in ATMs in New York and Massachusetts. He later admitted that he and a colleague used skimming devices and cameras to collect information about customer accounts.
Skimming is the reading of information from cards for fraudulent purposes using special devices.
According to a study conducted by KrebsonSecurity, the number of skimming attacks on American and European ATMs skyrocketed in 2015 and 2016. Those at greatest risk are those that are not installed in bank branches - for example, in shopping centers or on busy streets. In Europe, skimming attacks targeted an average of every twentieth ATM.
Given the global prevalence of ATMs, skimming remains a major concern for bank security officials. It does not matter whether it is a developed or developing country, you can become a victim of skimming anywhere, and banks are forced to invent new and new technologies to prevent such cases. Effective communication is essential here.
According to Retail Banking Research, there will be approximately 4 million ATMs operating worldwide by 2020. For comparison, in 2009 there were just over two million. It is significant that the number of ATMs is growing, despite the rapid spread of non-cash payments, which means that information about the imminent death of “cash” is somewhat exaggerated.
There are many ways to scam someone trying to withdraw money. They can attach a camera to the ATM and it will film you entering your PIN code, and the skimmer copies the data from the magnetic strip so that there are card details and its PIN code.
When cases of skimming are detected, it is critical for the bank not only to instantly identify the affected ATMs, but also to immediately notify all customers who may have been victims of fraud.
The main thing is that there are not too many of them...
Usually the bank promptly blocks all cards that were used in the compromised ATM, issuing a replacement.
In the current situation, it is simply necessary to inform clients about what measures the bank is taking to protect their funds. And a lot depends on how the information campaign is organized. We at Infobip have an appropriate platform for such situations.
Given that modern consumers almost never leave their mobile devices, it makes sense to target communications campaigns specifically at them, especially when it comes to truly important messages. On average, a smartphone user “communicates” with his device about 200 times a day, which means there is a greater chance that he will see an important message.
Ideally, the bank will send messages precisely through those channels that it knows the client is definitely using. This could be an SMS, a phone call, an email, or a notification via a mobile app. The client should know not only that he is at risk, but also what measures the bank has already taken to protect him.
Speed and proactivity in eliminating the consequences of fraud are essential factors in the actions of any financial institution that cares about its reputation. This is why modern communication solutions are used. Such campaigns are a combination of real-time analytics and rapid decision-making. Otherwise, the risks increase.
Accordingly, the communication campaign manager should have access to various analytical modules that allow real-time assessment of the situation, as well as customizable automatic reports on the progress of the campaign.
Launching a multi-channel campaign with a single platform that integrates all communication channels will save valuable time while acting in accordance with available information about the behavioral patterns of each client.
A man managed to steal $127,000 using skimming devices installed in ATMs in New York and Massachusetts. He later admitted that he and a colleague used skimming devices and cameras to collect information about customer accounts.
Skimming is the reading of information from cards for fraudulent purposes using special devices.
According to a study conducted by KrebsonSecurity, the number of skimming attacks on American and European ATMs skyrocketed in 2015 and 2016. Those at greatest risk are those that are not installed in bank branches - for example, in shopping centers or on busy streets. In Europe, skimming attacks targeted an average of every twentieth ATM.
Given the global prevalence of ATMs, skimming remains a major concern for bank security officials. It does not matter whether it is a developed or developing country, you can become a victim of skimming anywhere, and banks are forced to invent new and new technologies to prevent such cases. Effective communication is essential here.
According to Retail Banking Research, there will be approximately 4 million ATMs operating worldwide by 2020. For comparison, in 2009 there were just over two million. It is significant that the number of ATMs is growing, despite the rapid spread of non-cash payments, which means that information about the imminent death of “cash” is somewhat exaggerated.
There are many ways to scam someone trying to withdraw money. They can attach a camera to the ATM and it will film you entering your PIN code, and the skimmer copies the data from the magnetic strip so that there are card details and its PIN code.
When cases of skimming are detected, it is critical for the bank not only to instantly identify the affected ATMs, but also to immediately notify all customers who may have been victims of fraud.
The main thing is that there are not too many of them...
Usually the bank promptly blocks all cards that were used in the compromised ATM, issuing a replacement.
In the current situation, it is simply necessary to inform clients about what measures the bank is taking to protect their funds. And a lot depends on how the information campaign is organized. We at Infobip have an appropriate platform for such situations.
Given that modern consumers almost never leave their mobile devices, it makes sense to target communications campaigns specifically at them, especially when it comes to truly important messages. On average, a smartphone user “communicates” with his device about 200 times a day, which means there is a greater chance that he will see an important message.
Ideally, the bank will send messages precisely through those channels that it knows the client is definitely using. This could be an SMS, a phone call, an email, or a notification via a mobile app. The client should know not only that he is at risk, but also what measures the bank has already taken to protect him.
Speed and proactivity in eliminating the consequences of fraud are essential factors in the actions of any financial institution that cares about its reputation. This is why modern communication solutions are used. Such campaigns are a combination of real-time analytics and rapid decision-making. Otherwise, the risks increase.
Accordingly, the communication campaign manager should have access to various analytical modules that allow real-time assessment of the situation, as well as customizable automatic reports on the progress of the campaign.
Launching a multi-channel campaign with a single platform that integrates all communication channels will save valuable time while acting in accordance with available information about the behavioral patterns of each client.
